Supernova Capital group may soon have new strategy

APA - Austria Presse Agentur
06-03-2006, 11:38

Warsaw (Puls Biznesu) – Three national investment funds managed by Supernova Management, a member of listed Supernova, are getting ready to change their profile.

Warsaw (Puls Biznesu) – Three national investment funds managed by Supernova Management, a member of listed Supernova, are getting ready to change their profile.

The funds managed by Supernova Management, including Drugi NFI, NFI Progress and NFI im. Eugeniusza Kwiatkowskiego, have recently sold stake in Srubex screw producer. They still have stakes of listed Vistula and Wolczanka clothes producers.

“We are not holding talks to sell these stocks. Vistula is not easy to be sold due to a big stake owned by the second shareholder (PZU group) and growing share price. Wolczanka on the other hand is in its early restructuring process so it would be too early to sell its stock. This company has big potential and reserves”, Artur Cakala, Supernova Management CEO said.

The funds controlled by Supernova Capital received nearly PLN 5.5m (EUR 1.4m) from selling Srubex stake. The funds are to be spent on investment, including the stock of the listed companies. This is the new strategy of the funds, which have already sold out the companies they received in the privatization program. Funds have about PLN 125m for their new projects. Listed Atlanta underclothes producer, Mieszko sweet company, Prochem engineering group or Alma retailer have very similar capitalization.

“We have different projects but for the time being we focus on restructuring the funds”, Artur Cakala said.

Supernova Capital may sell two out of three funds it controls. The funds may also merger. On March 15th, an EGSM will be held to issue shares. Shares of the funds will be sold at PLN 0.1.

(PLN 1 = EUR 0.263)


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Podpis: APA - Austria Presse Agentur

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